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Fortune
Fortune
Marco Quiroz-Gutierrez

Terra cofounder Do Kwon pays six-figure bail in Montenegro as South Korean and U.S. prosecutors seek extradition

Do Kwon in Montenegro. (Credit: Filip Filipovic—Getty Images)

A year after the algorithmic stablecoin Terra collapsed in a crypto bank run that destroyed tens of billions of dollars in value, its cofounder, Do Kwon, has been granted bail in Montenegro.

Kwon, 31, was indicted there for allegedly using a forged Costa Rican passport to try to fly to Dubai. He has pleaded not guilty.

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